New Delhi: Eighty-seven flats in the Commonwealth Games Village out of 110 put on sale found buyers on Monday with the highest bid for a dwelling going beyond Rs 7.31 crore. Sale of tenders and their submission for the flats went on till 2 pm on Monday and later the bids were opened for all the 110 flats put on sale.

Public sector companies like SBI, HPCL, ONGC and others bid for a large number of flats while individuals were less in number.

A senior DDA official said SBI and HPCL had quoted the highest amount in a large number of flats. Though 218 bids for 87 flats were received and finalised, the official said, the highest bidder need not be assured of a confirmed allotment as the final decision rested with a competent authority.

A total of 218 tenders were received for the flats located in Tower No 1, 9, 14 of the village, according to press release issued by DDA here.

Delhi State Cooperative Bank Limited emerged the highest bidder, quoting Rs 7.31 crore for a 281 square metre flat at Rs 2.59 lakh per sq metre. The reserved price for the eighth floor flat was Rs 5.21 crore (Rs 1.85 lakh per sqm) and the bid was an increase of 40.23 percent from the reserved one, the release said.

However, the statement said, the highest rate of Rs 2.6 lakh per sqm was offered against Rs 1.85 lakh per sqm for another flat for which a bid of Rs 7.27 crore was received against reserve price of Rs 5,17 crore, it said.

The scheme to auction the CWG village flats was announced on April 24 with sale of brochures containing details of procedure, reserve price and eligibility of the flats.

DDA owns around 700 flats in the 1,168 flat Commonwealth Games Village. The agency expects to net over Rs.2,800 crore from the sale of these flats.

DDA officials said some flats did not receive bids at all while in others the bids were rejected due to inadequate papers.

Sources said four bids by an Oil PSU was rejected as it did not deposit adequate earnest amount. SBI was the highest bidder in about 25 flats while HPCL emerged first in over ten.

The share of Emaar-MGF, the builder of the CWG flats, is 457 flats and the remaining 711 flats are with DDA. Out of 711 flats, DDA bought 333 flats from Emaar MGF in 2010 through a bail-out package of Rs 760 crore.

Emaar sold its share of flats to customers at Rs 12,000-14,000 per sq ft.